The Dangers of State Tax Workarounds

Well folks, I hate to say “I told you so” with respect to the state and local tax “workarounds” enacted by state governments (such as my home state) in order to skip over the $10k limitation under 2018 law, but I told you so.

Its also interesting that many journalistic outlets using non-practitioner authors touted these strategies at the time of introduction as the greatest invention since sliced bread. Whereas, we ( and other firms sensitive to this issue) cautioned our clients to tread warily and to await future developments.

As the tax field becomes more muddied and confused seemingly by the day, I have told many for many years that it is critical to seek the guidance of knowledgeable professionals in this area, (as opposed to articles, do-it-yourself strategies, or seasonal outlets).